Related Tags:

Photo Galleries

SANTA ANA (CBS) — A new economic survey predicts construction spending in California is on the rebound.

The report released Tuesday from economists at IHS Global Insights said the state is projected to spend over $720 billion by the year 2016 — more than any other state — in what they expect to be a sluggish but steady recovery.

Economists predict California will see the biggest jump in spending at a projected $76.50 billion, followed by Florida at $36.9 billion and Texas at $20.73 billion.

On average, the forecast calls for a 8.6 percent jump in total construction spending nationwide, with double-digit spikes over the next three years.